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Canada's economy recorded no growth in the fourth quarter of 2022, well below the 1.5% forecast by analysts and the Bank of Canada's 1.3% projection. Monthly GDP contracted 0.1% in December, and the Canadian dollar weakened by more than a quarter cent after the release.
Weak growth reduces Canadian domestic demand and may ease Bank of Canada tightening, which pressures the loonie. Currency moves of this size have little direct effect on feed commodity prices.
theglobeandmail.comDarcy KeithFeb 28, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
